Is Mariano's parent merging with Target?

Shares of Mariano's parent Kroger jumped today on a report that it is in talks to merge with retail behemoth Target, though Reuters later quoted sources saying there is "no truth" to the report.

The news of a possible merger was first reported by Fast Company early this morning. "The two companies first started conversations last summer about a partnership that could improve Target's grocery business and give Kroger customers more access to merchandise and e-commerce," the tech magazine wrote, citing "several people with knowledge of the matter."

More from Fast Company: "Target and Kroger spoke again in the fall and talks are ongoing this year. The companies appear to be struggling to decide whether a merger is the best path forward. Last year, Target and Kroger's combined annual revenue added up to $195 billion."

Fast Company's story was later shot down by sources to both Reuters and CNBC. Kroger and Target did not respond to CNBC requests for comment. A source close to Target this afternoon told Crain's that there was "no truth" to the Fast Company report.

Bloomberg notes that the rumors of a merger come as both retailers are under pressure from Amazon.

"Each company has something the other needs. Kroger has been lacking in formulating a plan for adapting to the e-commerce grocery push heralded by Amazon.com Inc.'s takeover of Whole Foods," writes Bloomberg analyst Brooke Sutherland. "As for Target, it's been making strides in digital but needs a more differentiated and significant grocery operation."